News / Events

Exactus Announces Retirement of Remaining Convertible Notes

GLEN ALLEN, Va., March 07, 2019 (GLOBE NEWSWIRE) -- Exactus Inc. (OTCQB: EXDI), a healthcare company pursuing opportunities in Hemp derived Cannabidiol (CBD) products, today announced that it has retired the last of its outstanding convertible notes. Each note was exchanged for shares of a new series of preferred stock designated as Series A Convertible Preferred Stock.

As a result, the Company's convertible notes, which were convertible at variable prices reflecting a predetermined discount to market prices, have been retired and the Company has eliminated this form of indebtedness. Each share of Series A Convertible Preferred Stock, stated value $1.00 per share, is convertible into the Company's Common Stock at a fixed conversion price of $0.025 per share. Upon full conversion, the Series A Convertible Preferred Stock outstanding represents a total of approximately 33.2 million shares of Common Stock.

Philip Young, CEO, commented, ''We have completed the process of restructuring the capital table, strengthened our balance sheet, and are now free of convertible debt and are focusing on building our company that will be the most trusted name in developing and commercializing hemp derived Cannabidiol (CBD) products.''

For information about Exactus, their products and availability, please call 804-205-5036 or email, ir@exactusinc.com.

About Exactus:Exactus, Inc., is a healthcare company pursuing opportunities in two distinct business segments, Hemp derived Cannabidiol, which is more commonly referred to as CBD. Industrial hemp is a type of cannabis, defined by the federal government as having THC (tetrahydrocannabinol) content of 0.3 percent or less. That amount has not been shown to make a person feel "high." THC is the psychoactive compound found in cannabis. The company is also developing point of care diagnostics. For more information about Exactus: www.exactusinc.com.

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